Familiar retail names are continuing to disappear from malls and shopping centers across the United States in 2026, but the reasons vary widely. Some companies are closing underperforming locations as part of long-term turnaround plans, while others are dramatically shrinking after bankruptcy or shifting toward online sales.
Macy’s Is Closing More Department Stores
Macy’s entered the year with another round of department store closures as it continued reshaping its national footprint. The retailer identified 14 locations for closure, including stores in California, Georgia, Maryland, Michigan, Minnesota, North Carolina, New Hampshire, New Jersey, New York, Pennsylvania, Texas, and Washington. Most were expected to close early in the year, with another New York location scheduled for later (source).
The closures are part of Macy’s broader “Bold New Chapter” strategy, which originally called for shutting roughly 150 underperforming stores over several years while directing more resources toward locations the company plans to keep. Macy’s has emphasized that the strategy is not simply about reducing its store count. The retailer is also investing in stronger stores, customer service, luxury brands, and other parts of the business it believes have better growth potential (source).
Saks Fifth Avenue and Saks Off 5th Have Shrunk Dramatically
The contraction at Saks has been considerably more severe. Saks Global announced plans to close eight Saks Fifth Avenue locations during its bankruptcy proceedings, including stores in Birmingham, Columbus, East Rutherford, New Orleans, Philadelphia, Phoenix, Richmond, and Tulsa. A Neiman Marcus store was also included in the company’s full-line closure plans (source).
The company’s off-price business was cut even more sharply. Saks Global said 57 Saks Off 5th stores would close, leaving only 12 operating locations, while all five Neiman Marcus Last Call stores were slated to shut down. The Saks Off 5th e-commerce operation was also liquidated (source).
Saks Global later emerged from Chapter 11 under the new corporate name Exemplar Luxury Group, leaving the reorganized company with less debt and a smaller physical footprint. The situation illustrates an important distinction in the retail closure story: some chains are strategically trimming weaker stores, while others are reducing locations as part of a more extensive financial restructuring (source).
Allbirds Pulled Back From Most U.S. Stores
Footwear brand Allbirds made one of the year’s most dramatic retreats from physical retail. The company announced that it would close all of its remaining full-price U.S. stores, retaining only two domestic outlet locations. Allbirds had once operated more than 60 stores worldwide, including 45 in the United States at the end of 2023 (source).
The company said reducing its brick-and-mortar footprint would allow it to focus more resources on e-commerce, wholesale partnerships, and international distribution. The move followed several years of closing underperforming stores as Allbirds attempted to lower costs and improve profitability. Its retreat shows how some digitally born brands are reconsidering aggressive physical expansion after discovering that maintaining a large store network does not always produce the expected returns.
Nike Has Quietly Closed Smaller Neighborhood Stores
Nike remains one of the biggest names in athletic retail, but even the sportswear giant has been reevaluating parts of its store network. At least 15 smaller neighborhood locations that began as Nike Live stores and were later rebranded under the Nike Well Collective name have closed across the country. Affected markets span states including California, Florida, Illinois, Maryland, New Jersey, New York, North Carolina, Texas, and others (source).
The closures do not mean Nike is abandoning physical retail. Instead, the company has said it regularly evaluates stores and adjusts its footprint based on its broader growth strategy. Nike has continued investing in other store experiences while moving away from some of the smaller neighborhood concepts it once planned to expand widely. The shift is a reminder that a chain can close stores in one format while continuing to invest in retail elsewhere.
Walgreens Is Still Reducing Its Large Store Network
Walgreens is also working through a major multiyear reduction of its U.S. store base. The pharmacy retailer previously announced plans to close roughly 1,200 locations over three years as part of a broader effort to improve the performance of its retail pharmacy business (source). The plan prioritizes weaker locations, lease expirations, and stores where closure is expected to improve cash flow.
Company filings have described the broader footprint optimization program as involving approximately 900 to 1,000 store closures primarily in the United States by the end of fiscal 2027, alongside additional locations already approved for closure under an earlier cost-management program. That means store reductions remain an ongoing part of Walgreens’ turnaround rather than a one-time wave of shutdowns.
Why Major Retailers Are Closing Stores
There is no single explanation behind the current round of closures. Macy’s is deliberately concentrating investment in stronger locations. Nike is changing the types of physical stores it operates. Allbirds shifted resources toward e-commerce and wholesale after years of reducing its brick-and-mortar presence. Saks went through bankruptcy restructuring, while Walgreens is cutting weaker locations as part of a broader turnaround.
That distinction matters because the announcement of store closures does not necessarily mean an entire retailer is disappearing. Some chains are shrinking substantially, while others are simply changing where and how they operate. Online shopping, changing consumer demand, store-level profitability, debt, lease costs, and broader corporate strategies can all influence decisions to close locations.
A Changing Retail Landscape in 2026
Major retail closures remain highly visible in 2026, particularly when long-standing department stores and familiar mall brands are involved. Macy’s continues to reduce its traditional department store network, Saks has emerged from bankruptcy with a much smaller footprint, Allbirds has largely exited full-price U.S. retail, Nike has closed a group of smaller neighborhood stores, and Walgreens remains in the middle of a sizable multiyear reduction.
For shoppers, the most useful takeaway is to distinguish between a company closing entirely and one selectively shrinking its store base. Store lists and timelines can also change as leases, bankruptcy proceedings, and turnaround plans develop, so customers should verify the status of a specific location before making a trip or relying on older store information.